Kesko has agreed to acquire three builders’ merchants in Denmark: Roslev Trælasthandel A/S, Tømmergaarden A/S, and CF Petersen & Søn A/S. The combined net sales of the three operators total some €400 million. The acquisitions are part of the execution of Kesko’s growth strategy in Northern Europe, and once completed, will make Kesko’s subsidiary Davidsen a significant nationwide operator in the Danish builders’ merchant market.
“Kesko has a growth strategy: our target is to grow our B2B building and technical trade business in Northern Europe. The Davidsen acquisition was a strategic step for us and provided an entry to the sizable Danish market. These new acquisitions offer Davidsen the possibility to serve their customers nationwide and strengthen our market share in Denmark significantly. We will be in a good position to continue to grow further once the construction cycle turns. The acquisitions are an excellent example of Kesko’s capability to execute its chosen strategy with speed and precision,” said Jorma Rauhala, Kesko’s President and CEO.
Kesko first entered the Danish market by acquiring the builders’ merchant Davidsen Koncernen A/S in January 2024. Davidsen is one of Denmark’s largest building materials retailers, with a market share of approximately 10% of the Danish builders’ merchant market and some 33% of the market in Southern Denmark. Through the acquisitions announced today, Davidsen’s market share will rise to some 20% in the total Danish market, to some 22% in Central and Northern Jutland, and to some 11% in Zealand.
Roslev Trælasthandel A/S operates mainly in Central Jutland and focuses on B2B customers. Roslev has four fully-owned stores in Central Jutland and some 150 employees.
Tømmergaarden A/S is a builders’ merchant focusing mainly on B2B customers in Northern and Central Jutland. The company has 17 fully-owned stores in Northern and Central Jutland and some 400 employees.
CF Petersen & Søn A/S focuses on serving B2B customers in Zealand, where it holds a market share of some 8% and has five stores in Zealand and some 210 employees.
Roslev Trælasthandel, Tømmergaarden and C. F. Petersen & Søn are currently privately held businesses and part of the XL Byg chain. All three builders’ merchants will be acquired in full by Kesko’s subsidiary Davidsen, of which Kesko owns 90% while the Davidsen family owns the remaining 10%. The parties do not disclose the transaction price.
The completion of all three acquisitions is subject to the approval of the competition authorities and the fulfilment of certain other conditions. The transactions are expected to be completed in the first half of 2025.
